06/09/2025
Good news sees to be on the horizon:
As of today, India offers to slash tariff gap by two-thirds in dash to seal trade pact with Trump
—India offers to narrow tariff gap with U.S. to under 4%
—India wants exemption from all "current, potential" tariff hikes
—India ready to give preferential access to 90% of U.S. goods
—India wants U.S. to align it with allies on critical tech
The US is considering slashing its tariffs on China's goods at trade talks this weekend, after President Trump's promised that the 145% rate was "coming down."
On Friday morning, Trump posted on Truth Social: "80% Tariff on China seems right! Up to Scott B," referring to Treasury Secretary Scott Bessent. Bloomberg reported earlier that a more dramatic cut would be a first step, made in hopes of a matching tariff reduction by China.
China will soon have no choice but to give. Today, India offers to slash tariff gap by two-thirds in dash to seal trade pact with President Trump.
As trade talks begin, Chinese exporters prepare to get goods moving to US again
From Reuters:
China-based shipping agents have resumed buying container space for goods headed for the United States after a series of U.S. tariff-induced cancellations, as Beijing and Washington head for trade talks in Switzerland.
Reuters reports that four Chinese exporters, including some serving large US retailers like Walmart, are preparing to restart shipments to the US, in a positive sign for potential trade conciliation between the US and China.
Optimism for a shift in US policy grew on Thursday as Trump announced a trade deal with the UK, the first for his administration since imposing — then pausing — sweeping "reciprocal" tariffs against all trading partners in early April. He said Friday that the US had "many trade deals in the hopper," and White House economic adviser Kevin Hassett said over 20 more deals were "close to being resolved."
Trump said the "breakthrough" US-UK trade agreement would boost US export markets for agricultural products, including beef and ethanol.